Paul Ryan was interviewed by a giggly, simpering Savannah Guthrie on the Today Show. He was supposed to be interviewed about the GOP tax bill that is passing Congress. But that wasn’t on Guthrie’s agenda. She was there to exhibit her huge IQ and lecture Paul Ryan on how businesses will take the money from the tax cut, stuff it in Mason jars and bury it in an EPA Superfund Site.
“CEOs aren’t waiting on a tax cut to ‘jump-start the economy’—a favorite phrase of politicians who have never run a company—or to hand out raises,” Bloomberg said. “It’s pure fantasy to think that the tax bill will lead to significantly higher wages and growth.”
“I’ll ask you plainly: Are you living in a fantasy world?” Guthrie asked Ryan.
As a result of #TaxCutsandJobsAct passing, @ATT announces it will not only be investing $1 billion into the U.S. but also be giving 200,000 employees a $1,000 Christmas bonus. #TaxReform #MerryChristmas pic.twitter.com/tbwBLW48nc
— Zach Montanaro (@ZachMontanaro) December 20, 2017
— The Boeing Company (@Boeing) December 20, 2017
— Fifth Third Bank (@FifthThird) December 20, 2017
Comcast NBC Universal is giving more than one hundred thousand employees a $1,000 Christmas bonus, will spend spend $50 billion over the next five years on news of GOP tax cut pic.twitter.com/qVV240C7FH
— Benny (@bennyjohnson) December 20, 2017
Expect a stampede of companies handing out bonuses, raising pay, spending on capital projects and giving to charities, with the windfall from the massive corporate tax cuts passed Wednesday.
“You’ll see more companies doing this,” said Quincy Krosby, chief market strategist at Prudential Financial. “It’s excellent PR after all the mantra across the aisle that it’s just a tax plan for the rich and for corporate America and for people who own stocks. … It’s a good PR move, giving back to the folks in the company.”
“It affects the psychology of the moment. Giving back to your workers.. This was a major vicotry for corporate America,” she said of the tax cuts.
She also expects to see more banks making announcements since they are a major beneficiary of not only the tax cuts, but also deregulation.
“It’s good PR. It’s good corporate citizenship,” said Jack Ablin, CIO of BMO Private Bank. “It’s Christmastime. It’s the holidays. It’s spreading the good cheer around. It’s probably from a communications and PR perspective smart, and probably proactive because they’re going to get pressure. They might as well do it ahead of time.”
It would be nice if Guthrie would invite Paul Ryan back on and apologize for acting like a middle school girl who’d heard a naughty word. But it isn’t going to happen.